Novara Markets, the trading name of LUVOR MARKET, operates as a CFD and forex broker incorporated in Mauritius and regulated by the Mauritius Financial Services Commission. The broker’s services are explicitly unavailable to residents of the European Union, Canada, Iran, Iraq, North Korea, or other restricted or sanctioned jurisdictions, including OFAC-sanctioned and FATF high-risk jurisdictions. This policy creates a clear compliance boundary for traders seeking non-EU market access.
For high-net-worth individuals and private institutional traders, the restricted jurisdictions list carries practical implications. Traders based in the EU or Canada, for example, are ineligible to open accounts, while those in jurisdictions subject to OFAC or FATF sanctions face similar restrictions. This limits the pool of eligible clients to regions outside these categories, potentially narrowing market opportunities for some HNW traders.
The policy also underscores the broker’s adherence to regulatory frameworks in Mauritius, where client funds are held in segregated accounts as required by the FSC. While this does not directly address eligibility, it reinforces the broker’s commitment to compliance standards that align with its restricted jurisdictions approach. Traders must therefore verify their residency status against the list before seeking to engage with the platform.
For HNW traders in sanctioned or high-risk markets, the restrictions may necessitate alternative routes for CFD exposure. The absence of EU, Canadian, or other prohibited jurisdictions from the eligibility pool means these traders must explore brokers with different regulatory or geographic footprints if they wish to operate within those regions.
Novara Markets’ policy does not imply any judgment on the suitability of its services for traders in restricted jurisdictions—it simply defines the operational boundaries of the platform. Traders should assess whether their location and regulatory status align with the broker’s requirements before proceeding with account applications or trading activities.
